Connecting to LinkedIn...



Gulfsands Petroleum plc provides information on company production, ahead of London meeting

26/06/2014 by


Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in Syria, Morocco, Colombia, Tunisia and the U.S.A., is pleased to provide the following statement in advance of the Company’s Annual General Meeting to be held today at 10.00am in London.

Since the declaration of force majeure in respect of our Syrian operations on 11th December 2011, over two and a half years have passed since the Company has been in receipt of any significant revenue.

During this period, the Board and Senior Management have pursued two overriding priorities and have at all times sought to ensure that shareholders have been consulted and kept properly informed.

A key priority for management has been to keep the Company’s production and exploration assets in Syria intact, to preserve title to those assets and to do what has been possible to protect and sustain a limited number of our key staff, while at the same time complying absolutely with relevant sanctions. To date the Company continues to be successful in these endeavours.

Although the Company’s Syrian assets may understandably be perceived by the capital markets to presently be of limited value, the Board continues to believe that they will in due course once again be of substantial strategic value, as and when the tragic events in Syria reach a resolution.

The other priority has been to use the Company’s accrued cash balances, its technical expertise and experience and the contacts and credibility of senior management to diversify its portfolio and rebuild a viable exploration and production business, outside Syria but retaining a primary Middle East and North Africa focus.

This article has been extracted from, please click on this link to read the article in full,+ahead+of+london+meeting_102641.html

Montash is a multi-award winning, global IT recruitment firm. Specialising in permanent and contract positions across mid-senior appointments which cover a wide range of industry sectors and IT functions, including:

ERP, BI & Data, Information Security, IT Architecture & Strategy, Scientific Technologies, Demand IT and Business Engagement, Digital and E-commerce, Infrastructure and Service Delivery, Project and Programme Delivery.

With offices based in London, Montash has completed assignments in over 30 countries and has appointed technical professionals from board level to senior and mid-management in permanent and contract roles.

comments powered by Disqus

Social Stream

Latest News


Humans remain largest security flaw in cloud ...

2016-10-21 14:00:00 +0100

With a vast number of companies moving some, if not all, of their operations to the cloud, security continues to be of major concern. Whilst there are numerous patches and firewalls to safeguard defences, it has been highlighted that the most difficult area to protect against is human interaction. This is the view of Jamie Woodruff, a penetration tester and ethical hacker. Woodruff’s views come after he was contracted to conduct a penetration test in or...


Offshore exploration providing boost for oil ...

2016-10-19 09:00:00 +0100

The oil and gas industry has had a notoriously challenging time of late, with the prices of oil plummeting and causing many firms to tighten their belts. However, offshore exploration is providing a much-needed bright spot for the sector, with an increasing number of governments becoming more accommodating. In the past week, it has been revealed that there are big changes afoot for Brazil’s petroleum laws. Shell has already begun to move on this opportu...